Stablecoin and de-pegging are becoming best friends, more reason to love HBD (HIve Backed Dollar)

Since the crash of Terra labs Luna and UST, a lot of crypto projects and firms have crashed either due to the Luna and UST crash or something else like an attack on their system that leads to them crashing including stablecoin getting de-pegged and eventually crashing down before I continue let me mention the Terra Labs UST crash too was an attack or exploitation on their system that printed or minted more UST than usual, which led to UST crashing to Zero and when these stablecoin de-pegg's and crashes it happens so fast, for example, when UST de-pegging and crash happened I was opportune to be awake and watch it bounce off $0.9 to $0.8 then $0.6 and it came back up to $0.88.

Before I could close my eyes and open it was at 0.000 something that was when knew UST was gone and It is not coming back, because online that day especially on Twitter, a lot of people tweeted that it was going to come back and that maybe it was a glitch because of the way CEO of Terra Luna Do Kwon has bragged about how his projects are going to stand the test of time and not crash while other projects are crashing, but as faith or bad luck on his side would have it his project was the one that crashed and other projects he was laughing and making jest of are still here doing pretty well as they can do in a bear market situation.

What Is It With Stablecoin And De-pegging These Days

About 4 days ago ACALA a decentralized finance (DeFi) network powering Polkadot (Dot) stablecoin Acala dollar (aUSD) was under attack and the hackers minted out an excessive amount of aUSD just Terra labs UST and the price of aUSD de-pegged after plummeting 99.1% in 24 hours, the only good thing about Acala dollar (aUSD) situation is that the hackers did not get away with the money, the ACALA network noticed the hack and shut down their system before any further damage was done, so unlike Terra labs UST there could be hope for aUSD coming back from the dead.

Now, Huobi exchange stablecoin $HUSD de-pegged from the US dollar yesterday and it was trading at $0.85 and less but it is currently back up and now trading at $0.99, the de-pegged was due to news going around of Huobi's founder and CEO Leon Li planning on selling his majority stake in the firm but it is a huge FUD news. HUSD is a fiat-collateralized stablecoin, not algorithmic like UST.

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